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Aug 6, 2013 4:00am PDT
being discussed in the press. fisher said he was confident president obama would make the right pick. in the wake of a debate over whether or not banks should be allowed to own physical commodities comes word that goldman sachs is being sued because of the practice. the bank owns a big chunk of the u.s. supply of aluminum. it has been accused of holding on to that supply, keeping it off the market and thereby manipulating its market price. the class- action suit labels the practice "monopolistisc" and also targets the london metals exchange, which oversees metal warehousing. the lme says that the suit is "without merit." lena khan has been reporting on this story. she says the inclusion of the lme is key: "over the last few weeks, a lot of the attention has focused on the banks - on goldman sachs, jp morgan - and what they're doing with the warehouses, but i think the fact that the lme has designed its rules in a way that enables the banks to create these kinds of queues, that's very significant." the department of justice, the sec, and the federal reserve are all investigating the p
Aug 23, 2013 4:00am PDT
scheduling conflict.his term expires in january. president obama says america's colleges need to be more accountable for the value they provide students, their families and taxpayers. but as our cover story explains---he left open precisely how that value is measured. in buffalo, new york, president obama said rising costs are making college out of reach and a disturbing national trend reflects that---student loan default rates have now climbed above 9%--the highest it's been in 17-years. "bottom line is this, we've got a crisis in college affordability and student debt." so the president proposed the following reforms: first, a federal college value rating that could be tied to federal funding. second, the president wants to better prepare students for the global economy. but some fear that may curtail long-range thinkers in favor of short-term fixers. "we will essentially just graduate people responding to market demand but not create people who can see what's around the bend." thirdly, the president wants to make more graduates eligible to repay college debt gradually. "if we move for
Aug 9, 2013 4:00am PDT
house put out late notice president obama will hold a press conference today. on this friday morning, we find chris gersch of altimus capital good to go at cme group. good morning, chris. - good morning, angie. - a lot of interesting things happened in the market yesterday. one of them was gold. gold back above $1,300. is this a safe-haven play, or is something else going on here? - angie, it is not a safe-haven play. i believe it's about a two week trade. china came out with some great numbers, and i think it's a brilliant opportunity for copper and platinum, which rallied, to continue to rally. but, in the long-term, i think it's going to come out that the qe3 concerns are going to come back to the market, and it's going to hover around that $1,300 level. it's not a long-term, upside trade. - this is curious: investors, once again, are pulling money out of the stock market, but here we are with the s&p 500 around 1700. what would you do here? - i would definitely take some money off the market. the 1700 level has turned into a psychological level, as seen by the s&p futures
Aug 1, 2013 4:00am PDT
3.86%, but rates will rise as the economy improves. president obama continues criss-crossing the country as he talks up his plan to bring jobs and growth to the middle class. today he makes stops in virginia and florida. yesterday, the president met with democrats in the house and the senate on capitol hill. house speaker john boehner also held a closed- door meeting with republicans. boenher is said to be considering refusing to fund the healthcare reform law by tying it to a potential government shutdown this fall. congress has until september 30th to vote on avoiding a government closure. investors taking a shot on stock tied to obamacare are in the money. shares of e-health soared $6 higher on word the company will get a critical government contract. the online health insurance broker landed a deal with medicaid and medicare to enroll eligilble participants under the new healthcare plan. a new report reveals 82 of the nation's 100 biggest companies stash cash offshore. among the names on the public interest research group list: apple, with $102 billion; abbott labs, with $40
Aug 7, 2013 4:00am PDT
, why president obama is ready to bid farewall to mortgage lenders fannie mae and freddie mac. plus, why you should consider investing in countries that have yet to catch up to america's prosperity. and, getting ready for groupon: how one trader is hoping for the best and preparing for the worst. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's wednesday, august 7th. i'm angela miles. in today's first look: a summer stock slide. stocks fell yesterday, with the dow down 139 points. it recovered, but still closed 93 points lower. ibm was one of the biggest losers. the nasdaq dropped 27 points, the s&p slipped below 1,700, gold pushed back $19, and oil $1.13. bank of america is one to watch today. the department of justice is suing over the firm's mortgage-backed securities. first solar and ge are striking a deal. first solar will buy ge's technolotgy for making thin film panels. in exchange, ge will receive 1.75 million shares of first solar stock. the stock fell 9% last night after the solar company misse
Aug 14, 2013 4:00am PDT
filing lawsuits against asiana. president obama hits the road next week to conjure up support for middle-class jobs. the two- day bus tour includes stops in new york and pennsylvania. the president wants congress to consider cutting the corporate tax rate.more details are expected later this week.the road trip comes before the october 1 deadline for congress to pass a bill funding the government for the next fiscal year and the deadline for raising the debt ceiling. some insurance companies will wait until 2015 to start health care reform. the law goes into effect in 2014.but the new york times reports the obama administration is delaying a portion of the law that limits how much money americans will have to spend on medical costs..the law caps out of pocket expenses at $6,350 for individuals and $12,700 for a family under a one year grace period that has been listed on this government website for quite some time now...people with cancer or chronic illness it could face another year of high medical attorney representing benefit management for fortune 500 companies doubts
Aug 28, 2013 4:00am PDT
." white house not considering: regime change in syria 'boots on the ground" president obama is making it clear he will not negotiate on the debt limit. obama and congress "file" that includes any conditions congresses attaches to the vote. in remarks this week- treasuryi secretary jack lew told reporters--congress appropriated the money and therefore it is a congressional responsibility to now pay its bills. the u.s is expected to hit the debt limit in mid-october. the gop has talked up demanding spending reforms or cutting funding to obamacare in return for raising the country's borrowing limit. the sec wants answers soon on recent technigal trading troubles. officials at the nasdaq and the new york stock exchange have been asked to provide a timeline of last thursday's three hour trading halt on nasdaq stocks. nasdaq and nyse reuters reports that the rival exchanges have been unable to agree on that timeline and are apparently blaming each other for the glitch. sec chair mary jo white has called a meeting for septemeber 12th with the heads of both exchanges. the sec has asked both n
Aug 12, 2013 4:00am PDT
finding a partner. president obama is vacationing this week in martha's vinyard, but before taking off friday, he held a news conference and talked a bit about the process of finding the next federal reserve chairman. mr. obama says he has a range of outstanding candidates, and confirmed that janet yellen and larry summers are both in the mix. "a critical part of the job is making sure we keep inflation in check, that monetary policy is sound, that the dollar is sound. those are all critical components of the job." the news conference followed a closed-door meeting on goverment surveillence. ceos from apple and at&t were among those who attended. the president is opening an investigation into nsa surveillance programs. the former jp morgan trader known as the "london whale" may be off the hook. reports say bruno iksil is not likely to face charges related to bad trading bets that racked up more than $6 billion in losses for jp morgan chase. iksil is called the london whale because he was based in jp morgan's london office and put on monster-sized trading positions. the justice deparmtm
Aug 22, 2013 4:00am PDT
on lower sales of its office supples. president obama hits the road with a bus tour to new york today. he'll be talking about "shaking up" the way students pay for college and offering ideas to make higher education more affordable for the middle class. experts on higher eduction question "how" he could reshape financial aid for college without the cooperation of congress. americans are stashing away record amounts of cash for college. parents put away an average of 5 thousand dollars in 20-12, up 58% from 2007. however, many say they are still far from their long term savings goal, as college costs continue to rise. last year, tuition at public universities rose 4.8%, to an average of more than 8 thousand combat with costs, many parents are pushing for students to take online courses, or live at home instead of on campus. mark zuckerberg is looking to give the gift of internet to the entire planet. the head of facebook posted on his own facebook page this week, that he is teaming with corporate america to expand internet access to the world. currently 2.7 billion people ar
Aug 16, 2013 4:00am PDT
obama broke from his vacation to call for an end to the violence. he also cancelled the bi-annual joint military training exercise with egyptian forces. investors are pushing up the price of gold. gold futures shot up $32 dollars yesterday as an economic protection play by money managers and investors. consumer demand for the yellow metal is up 53% from last year. cnn money reports there's rush around the world with consumers buying jewelry, coins and bars of gold. most of the demand is coming from china and india. although gold rallied yesterday- gold futures are down from last year's $1,800 high giving some gold bugs a bargain. profit woes from walmart played a role in causing stocks to stumble yesterday. the retailer's sales slipped point- three-percent as consumers held back on spending. profits were up slightly last quarter, but the big box chain cut its profit-and-earnings outlook for next quarter. shares in walmart closed down nearly $2 dollars.. to $74 dollars. the housing market continues to be holding up as a bright spot in the economy.the latest numbers show-- foreclosu
Aug 2, 2013 4:00am PDT
the 15- year hit 3.43%, up from 3.39%. meanwhile, president obama is preparing for a speech on the housing market monday in arizona. momentum appears to be on the side of the housing market, with home prices up 38% since last year. but will it continue into the second half of the year? jed kolko, chief economist at trulia, is skyping with us this morning. hello jed. - good morning. - and how far into the housing recory are we? - we're more than halfway back to normal. we look at several measures of the housing recovery to see where we are today compared to the worst point during the recession, and the long-term normal level. and right now, we're a little more than halfway back, but there's still a ways to go before the housing market returns to normal. - what trends do you see forming in the second half of the year? - we've seen very big price increases over the past year. i expect we're going to see those start to slow down a bit. higher mortgage rates; more inventory coming onto the market, which is good news for buyers; and investors getting a little less eager to buy now that p
Aug 8, 2013 4:00am PDT
the time. in a rare web event, president obama took questions from americans on the housing market. the president partnered with real estate site zillow for the q&a, and for the second day in a row, he called for scaling down fannie mae and freddie mac, which are both backed by the government. the president prefers the private market perform more mortgage activity. "a lot of the questions have had to do with how do we get fannie and freddie reformed so they are not in a situation where taxpayers are essentially subsidizing huge risks that they are taking. as part of a package, you could see fannie and freddie reform that protects taxpayers, puts them on a more stable footing." the latest earnings from mortgage giant freddie mac came close to hitting a record. the agency, which was bailed out by taxpayers following the housing crisis, had a $5 billion profit. some republicans want to wind down fannie and freddie over 5 years and close the fhfa. bank of america shares fell on a double whammy. shares tumbled more than 2% wednesday after the justice department and the sec both lodged c
Aug 20, 2013 4:00am PDT
existing homes in the eastern seaboard hit by the big storm. president obama created the hurricane sandy rebuilding task force in december. its task, to assess what's needed to help people, businesses & the region. the report just released recommends 69 policy initiatives. the bottom line -- communities need to plan for stronger storms from climate change. the report also notes a need for new and existing infrastructure to be strengthened. after 40 years in private hands, re-max holdings, one of the largest real estate franchise businesses wants to go public.yesterday the denver- based company filed for an initial public offering of up to 100 million dollars. it's another sign of growing health and optimism in the us housing sector.the company claims its 92- thousand agents have sold more property in the us and canada than any other for 16 years straight.its shares will trade on the new york stock exchange under the symbol "rmax." the company was founded in 1973 by dave and gail liniger who remain in charge. the country's largest real estate website buys a competitor so it can compete in
Search Results 0 to 12 of about 13